Issue Archive - IA Magazine

March 2019

Volume 116, No. 3

Heavy catastrophe seasons in recent years have hit the high net-worth personal lines market particularly hard. Here’s what you need to know to deliver the right insurance solutions to your affluent clients.

In December 2017, the value of bitcoin hit an all-time high of $20,000, making it the type of commodity owners need insured. But just a few months later, Tokyo-based exchange Coincheck reported a loss of around $534 million worth of coins to hackers.

If all you do is chase short-term deals and low-hanging fruit, you run the risk of filling your pipeline with too many unprofitable deals at heavy discounts. On the flipside, if all you do is chase the big deals that take a long time to close, you’ll go hungry too long and starve revenue-wise.

In 2017, when Charles McCollum took over Manry & Heston with partners David Cherry and Charlie Fister, he remembered a quote from University of Georgia football coach Kirby Smart. “He said, ‘I want to make the University of Georgia football team significant again,’” McCollumn says. “It’s the same thing with Manry & Heston."